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48
Wiley IFRS: Practical Implementation Guide and Workbook
No tes to the Co ns olid a te d Cash F low Stat em en t
For the Year Ended September 30
(In euros millions)
2006
2005
2004'
A.
Cash generated fr om operations is calcula ted as follows:
Profit before taxation-continuing operations
4.156
3,130
2,531
Profit before taxation----<liscontinued operatio n
60
18
9
Adjustmen t for:
Depreciation
1,930
1,826
1,534
Amortisation of goodwill
148
Amortisation of intangible assets
65
60
69
Profit on disposal of plant and equipmen t includin g rental
assets
(108)
(97)
(130)
Profit on disposal of properties
(129)
(1)
(83)
Profit on disposal of subsidiaries and investments
(1 1)
(24)
(25)
Dividends received
(62)
(31)
(29)
Interest received
(261)
(156)
(230)
Finance costs
630
441
474
Fair value adjustments on financial instruments
(228)
56
107
Impairment losses
28
21
108
Reversal of pension fund closure provision
(100)
Realisation of translation reserve on liquidation of offshore
subsidiary
57
Other noncas h flow items
~
-----.ll
--l1
Operating cash flows before moveme nts in working capital
6,077
5,275
4,463
Increase in working capital
(10)
(475)
(206)
Increase in inventories
(688)
(427)
(2 13)
(Increase)/decre ase in receivables
(396)
(370)
(209)
Increase/(decrease) in payab les
1 074
----.122
----C2.Q2)
Cash genera ted from operat ions
--'i.ll61
4800
..A.ill
B.
Taxation paid is reconciled to the amounts disclosed in the
income statement as follows:
Amounts unpaid less overpaid at beginning of year
(4 19
(42 1)
(395)
Per the income statement (excluding deferre d taxation)
(1,3 15)
(958)
(814)
Adjustment in respect of subsidiaries acquired and sold includi ng
translation adjustments
39
(15)
(86)
Amounts unpaid less overpaid at end of year
---..1ili.8.
-----±l.2
----ill.
Cash amounts paid
lW!Qb)
~)
d.lli)
C.
Acquisition of subsidiaries, investments, and intangibles:
Inventories acqui red
57
11
108
Receivables acquired
226
96
994
Payables, taxation, and deferred taxation acquired
(230)
(90)
(1,64 1)
Borrowing net of cash
(5 12)
25
(2,148)
Property, plant, and equipment, noncurrent assets, goodwill and
minority shareholders
744
---.i5.
3525
Total net assets acquired
285
97
838
Less: Existing share of net assets of associates before acquisition
---.ill.
Net assets acquired
285
97
485
Goodw ill arising on acquisitions
--..nli
--ll
.sai
Total purchase consideration
523
118
1,482
Less: Barlowor ld shares issued to acquire Avis Southern Africa
.xa
Net cash cost of subsidiaries acquired
523
118
1,110
Investments and intangib le assets acquired
---.12.l
325
--32.
Cash amounts paid to acquire SUbsidiaries, investme nt, and
intangibles
---.Jl.l4
---..'l43.
1M2
Bank balances and cash in subsidiaries acquire d
12
36
224